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Benefits of this online platform, as well as some mistakes to avoid
When starting out as a business, there are going to be a lot of challenges in your way. If you were able to gather a good amount of capital, it should help you out. However, just because you have the resources doesn’t mean you’re going to experience smooth sailing.
When you’re just starting out, there will be decisions where you choose the wrong road to take. These are simply part of your journey towards building up your company. However, know that that doesn’t mean you can’t educate yourself in order to avoid them.
Another thing you’re going to be in short supply of as a startup is experience. Not only with yourself as a business owner, but it’s also unlikely that you’ll be able to employ professionals with years of experience under their belts.
In 2019, statistics show there are already over 2.7 billion people on social media.
These people will be expecting a higher pay due to their experience, and you most likely won’t be able to afford throwing in most of your budget in hiring someone who has a lot of experience, but only in one field.
Marketing is one field where the professionals are going to be a bit pricier considering how they are such a crucial part of your business process. They usually handle a lot of different campaigns, and they can be in short supply, especially the competent ones.
So, your choice should be to make full use of what you do have. One such ready tool is social media. Even the big corporations make full use of the power of social media, as that is where their target audience will gather. If you are able to make full use of it, your startup will grow in no time.
Keep in mind how half of all people on social media will interact with a brand at least once a month. If you’re not on social media, you are missing out on a great way to interact with your ideal customers and clients.
88% of all companies make use of social media, and you should be part of them. Here, we’ll talk about how social media can help your business grow.
Mistakes to avoid when you’re making use of social media
When initially making use of social media, there are many mistakes you could possibly make, especially considering how you are just starting out with your business. Remember, you can’t expect to gain a following if you use your business page on social media to share pictures with your logo stamped on it, and post sporadically.
Before we explore the reasons why you should make use of social media, we’ll lay down the common mistakes startups make on these platforms.
- Neglecting metrics
Some startups neglect to really set a target when it comes to social media, as they might think that as long as they are posting regularly, they should reap the benefits soon. This isn’t the way to do it, as metrics are just as important as maintaining a steady schedule of posts.
Metrics give you something to work towards, and it also allows you to measure just what your company is capable of. There are also certain tools and software you can make use of like Twitter Analytics and Facebook insights that will show you how your brand is doing on the corresponding platform.
You can then use the data gathered in order to create analytics that will show you how you can improve, as well as which parts you did well.
- Ignoring customer feedback
What can also be considered as a downside of social media is how easily customers will then be able to reach you for complaints. With just a few simple clicks (or taps as the case may be, considering how 91% of social media users access it on mobile devices) they are on your page and will immediately air out their discontent.
However, you can also look at this as an opportunity to improve. Because they are easily able to complain, you can use what they say in order to know which parts of your business you need to improve on. Never ignore what your customers tell you, as this will not only stop you from improving, but will also discourage your audience from recommending you to others.
On average, people spend 135 minutes of every day on social media according to the latest data.
- Forgetting to engage with others
As the very name suggests, social media is all about connecting with like-minded people and finding common ground for a relationship. Yes, the main thrust of making use of social media as a business is to grow your customer base, as well as be able to market your service or product to as many people as possible.
However, you should make sure to interact with other pages. Share their content, comment on their posts, and even message them privately. This way, they will also do the same for you, and it basically means you will be helping each other out.
Be sure to respond to whatever customers say as well, as this will ensure you are not only keeping the conversation going, but will have them feel that you are actually putting in effort in your social media activities.
- Failing to make use of a social media manager
However, when it all boils down to it, the biggest mistake you could possibly make when it comes to making use of social media is to not hire a social media manager. Sure, for a lot of startups, people are doubling up on jobs as there aren’t enough resources to hire a full staff.
However, managing social media is a full-time job. It takes a lot of time in order to learn all the ins and outs of the platform, and you also need to strictly stick to a schedule. Hiring a social media manager also comes with the added benefit of freeing up a lot of your time, so you can devote it instead to trying to grow your company
Why social media?
Now that you know what the most important things to avoid are, now we’ll highlight just why social media is important for you to leverage as a startup.
- It’s where you can first grow your circle
One of the first things you do when crafting your marketing strategy is to know your audience. Know their habits, their language, their preferences, as well as where they are from. And nine times out of ten, your preferred customers will be on social media.
You can then make full use of this platform to look for your target audience. Once you find them, engage with them, and this is where you will grow your fan base, so to speak. Social platforms were designed with interaction in mind, so make sure to engage with your audience in order to get their attention.
- It is a great place to gather data for analytics.
According to recent statistics, there are over 500 million tweets on Twitter daily, with 4.5 billion likes and reactions done on Facebook every day. This doesn’t even include the 95 million videos and photos uploaded on Instagram every day, and it already shows you just how much people engage with social media.
Make use of these engagements in order to gather intelligence to fuel your future campaigns. Just by measuring how many reactions or likes and shares a post gets, and comparing it to the number of people it reached, you can easily learn what your audience likes, and what they don’t.
- It’s where you can readily establish your brand
Just like how no two people are exactly the same, no two companies are the same either. Even if you were to provide the same products and services, there is something that sets you apart from your competitors. It’s your job to inform your audience about what that is.
Social media is a great place to establish just what sets you apart from the others. In short, it’s where you can optimally show your brand, and familiarize your prospects with it. By making sure your audience knows what’s different about you, all you have to do is show them why that something is what gives value to what you provide.
- It is the best place to find what strategy suits you
As mentioned before, out of every 10 companies, almost 9 of them are already making use of social media worldwide. No matter what industry you are in, you will most likely find hundreds of others already on social media.
Here, you can find out which style fits you best. No two tactics are the same, and you can use social media to see how others find success on the platform.
To be honest, probably the biggest reason why you should make use of social media as a startup in 2020 is because everyone else is on it. This means everyone else has a pool of over 2 billion people to potentially become a customer. Wouldn’t you want to join in?